Infinity Mining targets Nevada molybdenum project

• Infinity Mining executes an option agreement to acquire a 100% interest in the Tule Canyon Molybdenum-Copper Porphyry target in Nevada.
• The announcement arrived as global molybdenum prices trade at multi-year highs, exceeding US$40 per pound.
• The company stated that the transaction supports its broader strategy to secure critical mineral exposure in tier-one locations.

Infinity Mining (ASX:IMI) executed an option agreement to acquire a 100% interest in the Tule Canyon Molybdenum-Copper Project located in Nevada.

The project features historical drill intercepts, including 91.4m at 0.05% molybdenum from the surface, alongside historical surface rock chip samples reaching up to 2.57% molybdenum.

"This option agreement is another step in our strategy of gaining significant exposure to critical minerals in Tier-1 locations," said Infinity Mining Executive Chairman Adrian Byass.

Ownership of the Nevada target was split among multiple parties as recently as July before being consolidated into a single entity to facilitate further exploration.

Following the announcement, the Infinity Mining share price was unchanged at $0.008.

The company holds a portfolio of gold, copper, zinc, and lithium exploration tenements primarily focused across Western Australia's Pilbara region.